Sale of Carolina Panthers to David Tepper closes

CHARLOTTE, N.C. – The Carolina Panthers announced Monday that the sale of the team to David Tepper, the founder and president of global hedge fund Appaloosa Management, L.P., has closed, WSOC reported.

Tepper becomes only the second owner in team history. He started work on Monday.

“I am thrilled to begin this new era of Carolina Panthers football and am humbled by the overwhelming excitement and support for the team,” Tepper said in a statement. “On behalf of the fans and myself, I thank Jerry Richardson for bringing the team to the Carolinas and for entrusting me with its future. Winning is the most important thing both on the field and in the community, and I am committed to winning a Super Bowl championship together. I look forward to being part of the Panthers’ family and to supporting this flourishing region.”

Tepper bought the team from founder Jerry Richardson for $2.2 billion — the most ever paid for an NFL franchise.

Richardson put the team up for sale in December after reports of sexual and racial misconduct in the workplace, which the league later confirmed.